Your LNC business needs nourishing like plants in a garden. Continually learn new ideas, new approaches, and new methods to create the stimulus to change.
You can’t put new ideas into an old mindset. You can’t achieve new results with old behaviors. This is a hard reality of life.
Your comfort zone is a danger zone which constrains you from taking risks. Sometimes you need to take risks that feel uncomfortable, knowing you might fail. But more importantly, you will win some of the time.
Master these three keys to success and you will shine.
Continually Learn
One of the major reasons I was successful in growing my LNC business was that I would continually learn and then refine what I did. I studied marketing, presentation skills, and writing techniques and continue to do so. I believe there is a direct relationship between continual learning and continual business growth.
I continue to learn something new – every day.
My challenge to you: What are you learning about now? What have you identified that you want to know more about? What skills or knowledge do you see as necessary to advance your career?
Are you like a day old loaf of bread – getting stale?
Unless you are changing, you are losing ground. Intellectually we know that there is a fast pace of change in business, but we don’t always apply it to our own businesses. Here are three ways you can keep your business fresh:
1. Add new services. Think about what happened to these huge companies: Kodak and Blockbuster. Kodak did not add digital imaging to its line of services until it got swept into obsolescence. Blockbuster was wiped out by downloadable movies.
What services might you add to your LNC business? Start with what your clients are asking you to do. For example,
- Can you subcontract expert witness cases?
- Can you obtain medical records?
- Can you add life care plans?
- Are you providing support for IMEs?
- Can you help attorneys obtain well written reports from treating physicians?
2. Add new clients. The Marlboro cigarette brand was originally pitched to women. When the company decided to target men, the wildly popular Marlboro Man skyrocketed their sales. (I can attest to the fact it worked. My husband smoked Marlboros for years because he liked the rugged image. It is one of the top 5 brands in the world.)
What might you do to add new clients? For example,
- Are you marketing to law firms in a new geographical region?
- Have you considered who else besides plaintiff and defense attorneys hires LNCs? For example, insurance companies hire LNCs presuit to give them an indication of the severity of a possible claim. A nursing home chain may request a presuit review of high risk cases for the same reason. A physician who does IMEs may hire an LNC to summarize medical records.
3. Change your image. Concerns about using chemicals led to ChemLawn changing their name to TruGreen. Concerns about the harmful effects of frying led to Kentucky Fried Chicken becoming KFC. Same companies, same processes, different names.
What might you do to change your image? Uplevel your game. Get a new website, new logo, and maybe even a new company name. Build on the perception of value. Get rid of anything homemade and use a branding expert or web designer to upgrade your look. Continually learn how to get better.
What does it take to change your services, clients or image? In a word, work.
“When you knock on the door of opportunity, do not be surprised that it is work who answers.” Brendon Burchard.
It takes time, commitment, and willingness to invest - in yourself, your business, and your future. But it keeps your customers engaged, and it keeps you learning and growing.
Would the help of an experienced LNC coach help you grow your business? Let’s find out. Let’s talk about how we can work together to help you soar. Apply for a call with Pat Iyer today.
